Common use of Debt-to-Equity Ratio; Annual and Quarterly Financial Statements Clause in Contracts

Debt-to-Equity Ratio; Annual and Quarterly Financial Statements. Seller shall at all times during the Term, following the Commercial Operation Date, maintain the percentage of Facility Equity (as defined below) at no less than thirty percent (30%). Annually on March 1st, commencing after the Commercial Operation Date, Seller shall provide to PacifiCorp a certificate of Seller's Chief Financial Officer attesting to the maintenance of such Facility Equity percentage and the Facility's then-current Book Value. If requested by PacifiCorp from time to time, Seller shall within thirty (30) days provide PacifiCorp with copies of its most recent annual and quarterly financial statements and statement of the Facility's then-current Book Value. If, as of any such reporting date, the Facility Equity percentage is less than thirty (30) percent, then within sixty (60) days after such reporting date, Seller, in its discretion, will either (a) take the necessary action to cause the percentage of Facility Equity to be no less than thirty percent (30%) or (b) increase the amount of the Default Security by an amount equal to one percent (1%) (or pro rata portion thereof) of the then-current Book Value of the Facility for each percentage (or pro rata portion thereof) that Facility Equity falls below thirty percent (30%). PacifiCorp, in its sole discretion, may require that any required increase to the Default Security be provided in a form of Letter of Credit or cash, by providing written notice to Seller. For purposes of this section, “Facility Equity” means the aggregate amount, as of the Commercial Operation Date, of equity investment in the Facility by any owner, investor, or other party. The phrases “percentage of Facility Equity” or “Facility Equity percentage” means the ratio, expressed as a percentage, of the Facility Equity to the sum of (x) all indebtedness outstanding to third parties and (y) the amount of Facility Equity. Seller shall not grant a security interest to any third party in the Facility or any of its assets to support the obligations of any entity other than Seller or its Affiliates, or any obligations of Seller or its Affiliates other than obligations that relate directly to the Facility or Seller's or its Affiliates' other solar energy facilities. Without limiting the foregoing, Xxxxxx agrees to cause the contribution of Facility Equity whenever such contribution is required under Seller's and Seller's Affiliates agreements with Lenders.

Debt-to-Equity Ratio; Annual and Quarterly Financial Statements. Seller shall at all times during the Term, following the Commercial Operation Date, maintain the percentage of Facility Equity (as defined below) at no less than thirty percent (30%). Annually on March 1st, commencing after the Commercial Operation Date, Seller shall provide to PacifiCorp a certificate of Seller's Chief Financial Officer attesting to the maintenance of such Facility Equity percentage and the Facility's then-current Book Value. If requested by PacifiCorp from time to time, Seller shall within thirty (30) days provide PacifiCorp with copies of its most recent annual and quarterly financial statements and statement of the Facility's then-current Book Value. If, as of any such reporting date, the Facility Equity percentage is less than thirty (30) percent, then within sixty (60) days after such reporting date, Seller, in its discretion, will either (a) take the necessary action to cause the percentage of Facility Equity to be no less than thirty percent (30%) or (b) increase the amount of the Default Security by an amount equal to one percent (1%) (or pro rata portion thereof) of the then-current Book Value of the Facility for each percentage (or pro rata portion thereof) that Facility Equity falls below thirty percent (30%). PacifiCorp, in its sole discretion, may require that any required increase to the Default Security be provided in a form of Letter of Credit or cash, by providing written notice to Seller. For purposes of this section, “Facility Equity” means the aggregate amount, as of the Commercial Operation Date, of equity investment in the Facility by any owner, investor, or other party. The phrases “percentage of Facility Equity” or “Facility Equity percentage” means the ratio, expressed as a percentage, of the Facility Equity to the sum of (x) all indebtedness outstanding to third parties and (y) the amount of Facility Equity. Seller shall not grant a security interest to any third party in the Facility or any of its assets to support the obligations of any entity other than Seller or its Affiliates, or any obligations of Seller or its Affiliates other than obligations that relate directly to the Facility or Seller's or its Affiliates' other solar wind energy facilities. Without limiting the foregoing, Xxxxxx agrees to cause the contribution of Facility Equity whenever such contribution is required under Seller's and Seller's Affiliates agreements with Lenders.

Debt-to-Equity Ratio; Annual and Quarterly Financial Statements. Seller shall at all times during the Term, following the Commercial Operation Date, maintain the percentage of Facility Equity (as defined below) at no less than thirty percent (30%). Annually on March 1st, commencing after the Commercial Operation Date, Seller shall provide to PacifiCorp a certificate of Seller's Chief Financial Officer attesting to the maintenance of such Facility Equity percentage and the Facility's then-current Book Value. If requested by PacifiCorp from time to time, Seller shall within thirty (30) days provide PacifiCorp with copies of its most recent annual and quarterly financial statements and statement of the Facility's then-current Book Value. If, as of any such reporting date, the Facility Equity percentage is less than thirty (30) percent, then within sixty (60) days after such reporting date, Seller, in its discretion, will either (a) take the necessary action to cause the percentage of Facility Equity to be no less than thirty percent (30%) or (b) increase the amount of the Default Security by an amount equal to one percent (1%) (or pro rata portion thereof) of the then-current Book Value of the Facility for each percentage (or pro rata portion thereof) that Facility Equity falls below thirty percent (30%). PacifiCorp, in its sole discretion, may require that any required increase to the Default Security be provided in a form of Letter of Credit or cash, by providing written notice to Seller. For purposes of this section, “Facility Equity” means the aggregate amount, as of the Commercial Operation Date, of equity investment in the Facility by any owner, investor, or other party. The phrases “percentage of Facility Equity” or “Facility Equity percentage” means the ratio, expressed as a percentage, of the Facility Equity to the sum of (x) all indebtedness outstanding to third parties and (y) the amount of Facility Equity. Seller shall not grant a security interest to any third party in the Facility or any of its assets to support the obligations of any entity other than Seller or its Affiliates, or any obligations of Seller or its Affiliates other than obligations that relate directly to the Facility or Seller's or its Affiliates' ’ other solar wind energy facilities. Without limiting the foregoing, Xxxxxx agrees to cause the contribution of Facility Equity whenever such contribution is required under Seller's and Seller's Affiliates agreements with Lenders.

Debt-to-Equity Ratio; Annual and Quarterly Financial Statements. Seller shall at all times during the Term, following the Commercial Operation Date, maintain the percentage of Facility Equity (as defined below) at no less than thirty percent (30%). Annually on March 1st, commencing after the Commercial Operation Date, Seller shall provide to PacifiCorp a certificate of Seller's Chief Financial Officer attesting to the maintenance of such Facility Equity percentage and the Facility's then-current Book Value. If requested by PacifiCorp from time to time, Seller shall within thirty (30) days provide PacifiCorp with copies of its most recent annual and quarterly financial statements and statement of the Facility's then-current Book Value. If, as of any such reporting date, the Facility Equity percentage is less than thirty (30) percent, then within sixty (60) days after such reporting date, Seller, in its discretion, will either (a) take the necessary action to cause the percentage of Facility Equity to be no less than thirty percent (30%) or (b) increase the amount of the Default Security by an amount equal to one percent (1%) (or pro rata portion thereof) of the then-current Book Value of the Facility for each percentage (or pro rata portion thereof) that Facility Equity falls below thirty percent (30%). PacifiCorp, in its sole discretion, may require that any required increase to the Default Security be provided in a form of Letter of Credit or cash, by providing written notice to Seller. For purposes of this section, “Facility Equity” means the aggregate amount, as of the Commercial Operation Date, of equity investment in the Facility by any owner, investor, or other party. The phrases “percentage of Facility Equity” or “Facility Equity percentage” means the ratio, expressed as a percentage, of the Facility Equity to the sum of (x) all indebtedness outstanding to third parties and (y) the amount of Facility Equity. Seller shall not grant a security interest to any third party in the Facility or any of its assets to support the obligations of any entity other than Seller or its Affiliates, or any obligations of Seller or its Affiliates other than obligations that relate directly to the Facility or Seller's or its Affiliates' other solar wind energy facilities. Without limiting the foregoing, Xxxxxx Seller agrees to cause the contribution of Facility Equity whenever such contribution is required under Seller's and Seller's Affiliates agreements with Lenders.